Latest news with #Fresenius
Fibre2Fashion
16-05-2025
- Business
- Fibre2Fashion
Germany's Hugo Boss names Stephan Sturm as new supervisory chair
At Annual General Meeting of HUGO BOSS AG, Stephan Sturm (61), Chairman of the Board of the Heinz Hermann Thiele Family Foundation, Andreas Kurali (59), freelance business consultant, and Michael Murray (35), CEO of Frasers Group, were elected as new members of the Supervisory Board. They thus succeed Hermann Waldemer, Gaetano Marzotto, and Robin J. Stalker. Re-elected to office were Iris Epple-Righi, Luca Marzotto, and Christina Rosenberg. At Hugo Boss' AGM, Stephan Sturm, Andreas Kurali, and Michael Murray were elected to the supervisory board, succeeding Hermann Waldemer, Gaetano Marzotto, and Robin J Stalker. Sturm was named chairman, following Waldemer's five-year tenure. Sturm brings extensive leadership experience from Fresenius and Lufthansa and aims to help drive Hugo Boss's future success. In its subsequent meeting, the Supervisory Board elected Stephan Sturm as the new Chairman of the Board. He succeeds Hermann Waldemer, who held the position since 2020, and had previously been a member of the HUGO BOSS Supervisory Board since 2015. His term ended after the official five-year tenure with the conclusion of today's Annual General Meeting. Stephan Sturm worked for Fresenius Group for 18 years, first as Chief Financial Officer, and from 2016 as Chief Executive Officer. During his time with Fresenius, he also served as Chairman of the Supervisory Boards of Fresenius Medical Care and Fresenius Kabi. Between 2015 and 2021 Stephen Sturm was a member of the Lufthansa Supervisory Board, where he most recently chaired the Audit Committee. Since April 2025 he has been a member of the Supervisory Board of Knorr-Bremse. 'I am firmly convinced that HUGO BOSS is oriented towards a very successful future. This is why I look forward to making a decisive contribution to this success, together with the Management Board and the Supervisory Board team. On behalf of the entire Supervisory Board, I would like to thank the outgoing members Gaetano Marzotto, a member of this body for 15 years, Robin J. Stalker, and, of course, my predecessor Hermann Waldemer for their successful work", says Stephan Sturm, Chairman of the Supervisory Board of HUGO BOSS. Furthermore, the new Supervisory Board appointed Andreas Kurali as Chairman of the Audit Committee. The term of office for all Supervisory Board members is five years. The new Supervisory Board of HUGO BOSS AG consists of the following members: Shareholder representatives Stephan Sturm, Hofheim, Germany (Chairman) Iris Epple-Righi, Munich, Germany Andreas Kurali, Zug, Switzerland Luca Marzotto, Venice, Italy Michael Murray, London, Great Britain Christina Rosenberg, Münsing – St. Heinrich, Germany Employee representatives Sinan Piskin, Metzingen, Germany (Deputy Chairman) Katharina Herzog, Reutlingen, Germany Claudia Hülsken, Stuttgart, Germany Daniela Liburdi, Sindelfingen, Germany Laura Micati, Metzingen, Germany Tanja Silvana Nitschke, Weil im Schönbuch, Germany Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
Politico
15-05-2025
- Business
- Politico
Thune aide heads back downtown
With Daniel Lippman DIALYSIS GIANT ADDS THUNE STAFFER: Sarah Schmidt is returning to K Street to join kidney dialysis company Fresenius Medical Care as a vice president and head of federal government relations. — Schmidt most recently served as the health policy director for Senate Majority Leader John Thune, and before that she led government affairs at Palantir and was a senior in-house lobbyist at CVS Health. She's also a Rob Portman and Michael Burgess alum. — At Fresenius, Schmidt will succeed Laura Kemper, who left the company to join Jeffrey j. Kimbell & Associates earlier this year. Her hiring comes as Fresenius works to navigate the Trump administration's tariff policies, which prompted the dialysis giant to set up an internal tariff task force in March. — The kidney dialysis industry has been seeking a legislative fix since a 2022 Supreme Court ruling permitting an employer-based health plan to offer only out-of-network coverage for dialysis services for patients with advanced kidney failure. — Last year, the FTC began probing Fresenius and fellow dialysis giant DaVita for potential antitrust violations. And last week, a union health benefits plan filed a class action lawsuit that accused the two companies of obtaining an illegal duopoly over the dialysis industry. ON THE AIRWAVES: A pair of advocacy groups is unleashing a wave of ads targeting the proposed Medicaid overhaul approved by House Republicans during their overnight markup this week. It's a preview of what lawmakers will be up against as they work to pass their party-line package of tax cuts, border security and domestic policy changes. — The 150-year-old agriculture and rural group National Grange today rolled out a six-figure ad buy contrasting the plan advanced by Republicans on the House Energy and Commerce Committee with President Donald Trump's vow earlier this year that safety net programs like Medicaid wouldn't be touched. The House plan includes new work Medicaid requirements, among other revisions in order to slash hundreds of billions of dollars in Medicaid spending. — 'Congress needs to honor President Trump's commitment to Medicaid,' the group argues in a 30-second spot. The ad, which will run inside the Beltway as well as in several battleground states, highlights the number of rural Americans who depend on Medicaid and insinuates that cutting Medicaid spending will accelerate the closures and service cutbacks of rural hospitals across the country. — Meanwhile, the hospital and patient advocacy group Coalition to Strengthen America's Healthcare is out with an ad this week that appears to be tied to the just-passed Mother's Day. The spot features a couple debating whether to put one partner's aging mother into a nursing home, where the ad says that more than 60 percent of seniors rely on Medicaid. — The ad is part of a seven-figure ad blitz from the group — whose members include top hospital trade associations — aimed at spotlighting various Medicaid constituencies who could be affected by Medicaid cuts, including children and veterans. It will run on national cable outlets and online. — Frontline Republicans have already been awash in attack ads by Democratic and outside groups over potential Medicaid cuts, though other outside organizations have started to come to the party's defense in recent weeks. But now that the GOP has finally unveiled its Medicaid blueprint — which has faced criticism from fiscal hawks — the ad blitzes are certain to ramp up. Happy Thursday and welcome to PI. Send lobbying tips. You can add me on Signal, email me at coprysko@ and be sure to follow me on X: @caitlinoprysko. STRONG ARM OF THE LAW: 'GOP staff for the House Agriculture Committee is warning industry groups that they need to get behind the panel's megabill package of $300 billion in nutrition spending cuts or risk getting nothing from the $60 billion in farm bill investments also included in the proposal,' according to an email from the committee's policy director obtained by POLITICO's Grace Yarrow. — The missive from Trevor White to agriculture lobbying groups encouraged them 'to make 'statements of support' and conduct 'direct outreach to members off the committee' to ensure that the farm bill programs survive the reconciliation process.' — ''With the current budget environment, once this train leaves the station, if these investments are NOT included, it is hard to see a path forward for the remaining pieces of the farm bill,' White said in the email sent Tuesday that was viewed by POLITICO.' — 'White's email also encouraged agriculture groups to reach out to lawmakers who aren't on the House Agriculture Committee to encourage them to support the measure's farm bill provisions,' and to report back on those efforts to the ag panel's staff. 'That pressure could be critical to helping those programs survive a full House vote, as some fiscal hawks typically vote against the major subsidies included in the farm bill.' PARDON ME: Sens. Elizabeth Warren (D-Mass.), Dick Durbin (D-Ill.) and Richard Blumenthal (D-Conn.) 'are asking the Trump administration to detail its interactions with crypto exchange Binance and billionaire founder Changpeng Zhao as he seeks a presidential pardon, the latest inquiry into potential conflicts of interest in the industry,' per the Wall Street Journal's Amrith Ramkumar. — 'The Journal reported in March that Zhao had been seeking a pardon while representatives of President Trump's family held talks to invest in the U.S. arm of Binance. Zhao served four months in prison last year after pleading guilty to violating anti-money-laundering requirements. He said on a podcast for crypto enthusiasts that he had lawyers formally apply for a pardon.' — 'Trump's Binance connections drew scrutiny when his family's crypto venture, World Liberty Financial, was part of a $2 billion investment into Binance made by a United Arab Emirates state-backed investor. The arrangement helped make World Liberty's dollar-pegged cryptocurrency among the largest in the world.' — 'The convergence of Mr. Zhao's pardon application and Binance's financial entanglements with the president's family presents urgent concerns regarding the integrity of our justice system,' the senators wrote in their letter to Deputy Attorney General Todd Blanche and White House counsel David Warrington.' FLYING IN: The hunting rights group Safari Club International hit the Hill today for its first fly-in of Trump's second term, which follows Trump's visit to SCI's Washington office during the presidential campaign last year. — Trump, whose eldest son, Don Jr., is an avid hunter, had a friendlier relationship with the hunting world than did President Joe Biden, who reversed Trump's rollbacks of certain Endangered Species Act protections and tightened rules for hunting on federal lands and hunting trophy imports. — The American Exploration & Production Council is wrapping up a two-day fly-in today focused on issues like the Biden-era methane tax, tax treatment of intangible drilling costs, oil-and-gas development on federal lands and permitting reform. And Energy Marketers of America finished up its fly-in, which included more than 150 scheduled meetings with members and staff to discuss issues like hours of service waivers, swipe fees, Inflation Reduction Act subsidies, Congressional Review Act efforts and more. — Also on the Hill this week were loss prevention officials with the National Retail Federation; the biotech, medtech and research coalition California Life Sciences; oncology and medical device company Novocure; the American Disability & Aging Alliance; the Wine and Spirits Wholesalers of America; the Alliance for Chemical Distribution; and instructors with Texas State University's Advanced Law Enforcement Rapid Response Training Center. FORETELL ADDS 4: Foretell, the communications and public affairs firm started last year by Shopify alums Erin Pelton and Nicole Flotteron, has tripled its staff in recent months with four new hires. — Bari Golin-Blaugrund has joined as a senior vice president from Actum. She's also a Cruise Lines International Association and Mercury alum. Jacqueline Policastro and Sabrina Siddiqui have joined as senior advisers. Policastro is the founder of Policastro Communications and is an American Hotel and Lodging Association alum, and Siddiqui was most recently at Vaulted Deep and is a Stand with Crypto, Meta, Treasury and Mazie Hirono alum. And Jennifer Min has joined from the Pentagon as a lead. ANNALS OF CAMPAIGN FINANCE: 'Conservative donors have disputed hundreds of campaign contributions sent to Kari Lake, the former Arizona Senate candidate who is now helping Donald Trump dismantle Voice of America,' Matt Sledge reports for The Intercept. — 'Even though Lake lost her bid to be a senator from Arizona in November, Federal Election Commission records show that she has continued to collect thousands of small-dollar donations through WinRed, the conservative counterpart to the liberal fundraising platform ActBlue.' — 'Lake's donations have drawn what political consultants said is a high rate of chargebacks, a reversed charge initiated by a donor's bank after they dispute the transaction. Chargebacks are often considered a last-resort option for donors who can't secure refunds.' — 'Lake, who once criticized a fellow Republican for a high rate of refunds, has drawn one chargeback for every seven donations in the first quarter of 2025, FEC records show. At a time when Trump is targeting ActBlue for a Justice Department investigation, critics said Lake's chargebacks serve as a red flag for potentially questionable fundraising tactics.' SPOTTED on Wednesday at the Cyber Threat Alliance's Threat Intelligence Practitioners' Summit, per a tipster: acting CISA Director Bridget Bean, Michael Daniel of the Cyber Threat Alliance and Richard Evanchec of the FBI. Jobs report — Sarah Flaim is joining Forterra as head of congressional affairs. She was most recently a managing director at DCI Group and is a House Budget Committee, Kay Granger and Jeb Hensarling alum. — Tim Locke has started Locke Lobbying Co., LLC. He spent the past 29 years at the Smith-Free Group, most recently as senior vice president. — Topsoe has added Scott Shiller as head of U.S. federal affairs. Shiller previously served as vice president for congressional affairs at Ligado Networks and is a Trump NSC, Lee Zeldin and Billy Long alum. — Molly Morrissey is joining Bracewell's Policy Resolution Group as a member of the strategic communications team. She was most recently media relations manager in DOE's Loan Programs Office and is a Tina Smith alum. — Sarah Tellock is joining Acadia to lead federal government affairs. She previously served as the director of congressional affairs for the Alzheimer's Association and Alzheimer's Impact Movement. — Chuck Burgess is joining the Herald Group as an EU-based strategic adviser. He previously served as president of Abernathy MacGregor (now H/Advisors Abernathy). — Holland & Hart is adding Jennifer Scheller Neumann and Amelia Yowell as of counsel. Scheller Neumann previously was chief of DOJ's Environment and Natural Resources Division appellate section. Yowell previously was an appellate attorney in DOJ's Environment and Natural Resources Division. — Matt Klapper will be a partner and co-chair of Jenner and Block's congressional investigations practice and global crisis management and strategic risk practice. He previously was chief of staff and senior counselor to former Attorney General Merrick Garland and is a Cory Booker alum. — Michael Negron will be a senior fellow for economic opportunity at the Center for American Progress. He currently is a policy fellow at Groundwork Collaborative and is a Biden White House and Small Business Administration alum. — Elizabeth Whitney Rubel will be head of business development at Paradox Public Relations. She previously was senior digital media executive at Hearst Digital Media. New Joint Fundraisers CAPITO VICTORY (Sen. Shelley Moore Capito, Wild and Wonderful PAC, NRSC) New PACs Bull Moose Institute PAC (PAC) Center for AI Safety Action Fund PAC (CAIS AF PAC) (Hybrid PAC) New Lobbying REGISTRATIONS Chapman And Cutler LLP: Chamber Of Digital Commerce D/B/A The Digital Chamber Chesapeake Enterprises: Chupacabra Ventures Holland & Knight LLP: The Moinian Group K&L Gates, LLP: American Council Of Engineering Companies, Inc. Rising Tide Associates: General Plastics The Vogel Group: Cofr Technologies, Inc. The Vogel Group: Snorkel Ai Inc Venn Strategies: Advocates For Community Health Venn Strategies: Allianz Venn Strategies: Forge Battery Williams And Jensen, Pllc: World Dog Alliance (Hong Kong) Limited Winning Strategies Washington: Technip Energies USa, Inc. New Lobbying Terminations None.
Reuters
12-05-2025
- Business
- Reuters
Dialysis giants DaVita and Fresenius Medical sued by employee benefits plan
May 12 (Reuters) - A union health benefits fund has sued top U.S. dialysis service providers DaVita (DVA.N), opens new tab and Fresenius Medical Care ( opens new tab in federal court in Colorado for allegedly conspiring to artificially inflate treatment costs by billions of dollars. The proposed nationwide class action, opens new tab was filed on Friday by Pennsylvania-based United Food and Commercial Workers Local 1776, which provides benefits for thousands of members across the United States. DaVita and Fresenius, the two largest dialysis providers in the United States, illegally carved up areas in the country to avoid competition, the lawsuit said. The plaintiffs also said the companies since at least 2021 have engaged in parallel price increases that are higher than competitors and 'not adequately explained by market forces.' DaVita in a statement on Monday said "the allegations in this case are baseless, and we will defend against it vigorously." Fresenius declined to comment. Attorneys for United Food and Commercial Workers Local 1776 did not immediately respond to requests for comment. German healthcare group Fresenius spun off Fresenius Medical Care in 2023 and is not a defendant. In the United States, DaVita and Fresenius earn more than 90% of industry revenue for dialysis services, according to the lawsuit. The complaint said the two companies acquired their dominance through a 'decades-long strategy of acquiring small, independent clinics in uncontested mergers.' The lawsuit also alleged the two companies have had opportunities to collude on pricing through their partnerships and deals. United Food and Commercial Workers Local 1776 pays for dialysis services for its members. The lawsuit seeks class status for all purchasers of outpatient dialysis services from DaVita, Fresenius or one of their affiliates. DaVita is among a group of outpatient medical center operators facing antitrust claims in the federal court in Chicago, Illinois, over employee compensation and mobility. The plaintiffs in that proposed class action, filed in 2021, have alleged a conspiracy over hiring and recruitment practices for senior employees at ambulatory surgery centers and outpatient medical facilities suppressed pay. An expert for the plaintiffs has estimated class-wide damages of nearly $870 million in that case. DaVita and the other defendants in that lawsuit have denied any wrongdoing. The case is United Food and Commercial Workers Local 1776 and Participating Employers Health and Welfare Fund v. DaVita Inc et al, U.S. District Court, District of Colorado, No. 1:25-cv-01478. For plaintiffs: Stephen Tillery and Andrew Ellis of Korein Tillery, Vincent Briganti of Lowey Dannenberg and Eric Young of Young Law Group For defendants: No appearance yet Read more: US drops antitrust case over healthcare hiring agreements DaVita loses bid to dismiss class 'no-poach' claims DaVita and its former CEO acquitted of U.S. antitrust charges
Yahoo
08-05-2025
- Business
- Yahoo
Fresenius SE & Co KGaA (FSNUF) Q1 2025 Earnings Call Highlights: Strong EPS Growth and ...
EPS Growth: Double-digit growth, with core EPS up 12% in Q1. Kabi EBIT Margin: Increased to 16.8%. Organic Revenue Growth: 7% for the group. EBIT Growth: 4% at constant currency. Group EBIT Margin: 11.6%. Net Debt to EBITDA: Within the target range of 2.5 to 3.0. Biopharma Organic Growth: 40% driven by Tien's success. Helios EBIT Margin: 9.8% with strong performance in Spain. Free Cash Flow: Increased by nearly 2 billion. Interest Expense Reduction: Expected reduction of approximately 20 million for the year. Full Year Guidance: Reconfirmed with 7% organic top line growth and 4% EBIT growth at constant currency. Release Date: May 07, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Fresenius SE & Co KGaA (FSNUF) reported a strong start to 2025 with double-digit EPS growth, reflecting effective capital management and portfolio optimization. The company achieved a 12% increase in core EPS in Q1, driven by growth and earnings expansion across its businesses. Kabi's EBIT margin increased to 16.8%, supported by strong performance in biopharma, nutrition, and medtech sectors. Helios delivered strong top-line growth, with Spain achieving a 13.1% EBIT margin and 23% EBIT growth at constant currency. The company successfully reduced its stake in Fresenius Medical Care, using proceeds to enhance returns and lower debt, strengthening its balance sheet. Negative Points The absence of energy relief in Germany affected Helios' EBIT margin, which was down year-on-year. Potential impacts from global trade uncertainties and tariff policies could affect future economic activity. The weakening of the US dollar against the euro could negatively impact reported revenue and EBIT if it persists. The company faces challenges in maintaining momentum amidst a dynamic macroeconomic and geopolitical environment. Kabi's Q2 performance may be impacted by the absence of the high-margin product Keto in China, affecting revenue and EBIT. Q & A Highlights Q: Can you provide an update on the progress of the biopharma business and its margin expectations? A: Michael Sen, CEO, explained that the biopharma business is progressing well and is approaching the structural EBIT margin range of 16-18%. The business is expected to reach this margin in the midterm, typically within 3 to 5 years, with a potential for earlier achievement if everything aligns well. The focus is on launching new molecules and expanding market share. Q: What are the plans for further deleveraging and balance sheet management? A: Sara Hennicken, CFO, stated that while significant progress was made last year, the pace of deleveraging will be slower in 2025. The focus remains on cash generation and improving EBITDA. The company aims to reach a leverage target of 2.5 to 3 times net debt over EBITDA.
Yahoo
07-05-2025
- Business
- Yahoo
Fresenius Medical Care AG (FMS) Q1 2025 Earnings Call Highlights: Strong Revenue Growth and ...
Organic Revenue Growth: 5% with contributions from both Care Delivery and Care Enablement. Operating Income Growth: 11% increase, consistent with the expected phasing of the full year outlook. Net Leverage Ratio: Improved to 2.8x, below the self-imposed target range. Care Enablement Margin: Improved to 8.3%, entering the target margin band of 8% to 12%. Same Market Treatment Growth (U.S.): Stable, with a 0.5% plus expected growth for 2025. Same Market Treatment Growth (International): Accelerated to 2.5%. Lives Under Management: Increased from around 130,000 to around 148,000 by the end of March. Special Items Impact: Negatively affected group operating income by EUR126 million. Operating Cash Flow: Increased by 28% against last year's quarter due to improved operating working capital. Bond Issuance: Placed 2 bond tranches with an aggregate volume of EUR1.1 billion. Release Date: May 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Fresenius Medical Care AG (NYSE:FMS) reported strong organic revenue growth of 5% in Q1 2025, driven by both Care Delivery and Care Enablement segments. The FME25 transformation program delivered EUR68 million in additional sustainable savings, contributing to the company's financial health. Operating income grew by 11%, positioning the company well for future quarters. The net leverage ratio improved to 2.8x, below the self-imposed target range, indicating strong financial discipline. Care Enablement segment achieved a margin of 8.3%, entering its target margin band of 8% to 12% for the first time. Negative Points The severe flu season led to increased missed treatments, impacting same market treatment growth in the U.S. Divestitures negatively impacted revenue development by 260 basis points. Special items, including costs related to portfolio optimization and the FME25 transformation program, negatively affected group operating income by EUR126 million. Labor and inflation costs offset some of the earnings developments in the Care Delivery segment. The company faced a headwind from one less dialysis day in the quarter, affecting absolute volume development and utilization. Q & A Highlights Q: What are you seeing in April trading in the U.S., and how does this impact your confidence in the full-year guidance? A: The flu season hit hard in February and March, but we are encouraged by the underlying referrals, which are a strong leading indicator. We expect the mortality effect to show with a 6- to 8-week lag. We are confident in our positive trajectory and maintaining our 0.5% growth guidance for the year. - Helen Giza, CEO
